We’ve all seen the forecasts and the numbers are staggering, some might even say breathtaking.
Indeed, the future of the biometric technology market is forecasted to be very strong for the coming years and it seems that all the prognosticators agree.
One of the reasons the revenue and utilization numbers for biometrics are so positive has to with consumer acceptance. That’s right, gone are the days of fear and anxiety over the use of the technology. No longer considered invasive, as a matter of fact biometric fingerprint technology is being championed as the global solution to increased privacy and security.
Additionally, as we continue to embrace small – sleek smart devices to manage our communications and data it’s vital that the security solution is robust enough to complement the devices capabilities.
When positioned properly, biometrics remove the static and friction of traditional authentication methods. Sure, my bank knows it’s me if I answer my mother’s maiden name and my favorite pizza joint in college but is that the best we can do to secure online privacy – access? Also, if you know me well enough would it be that hard to extract the answer to those two questions? Imagine, by knowing the names “Smith and Vinnie’s Pizzeria” you have the keys to my online world.
Yet, if you knew me intimately forever – you still could never duplicate my fingerprint. Pizza anyone?
So, BIO-key is taking the leadership role to empower us all to optimize the power of our own biometrics. The company is championing the Biometric of Things (BoT) a business development strategy to leverage and include biometric fingerprint technology on everyday consumer products, such as the company’s new line of biometric padlocks.
The biometric industry has shown more growth and promise over the past 3 years than the previous 30. We’re witnessing growth in multiple industries addressing multiple use cases, biometric technology is no longer just a government solution. As banks, retailers, call centers, healthcare organizations, schools and small to midsize businesses prepare to modify their security infrastructures to keep pace with today’s cybersecurity threats, biometrics has emerged as the premier technology to address such challenges.